Codexis, Inc. (NASDAQ:CDXS) is Vivo Capital LLC’s 3rd Largest Position

Vivo Capital LLC reduced its position in shares of Codexis, Inc. (NASDAQ:CDXS) by 3.5% during the 1st quarter, Holdings Channel reports. The firm owned 2,618,951 shares of the biotechnology company’s stock after selling 95,507 shares during the quarter. Codexis accounts for 5.4% of Vivo Capital LLC’s holdings, making the stock its 3rd largest holding. Vivo Capital LLC’s holdings in Codexis were worth $53,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in the business. ClariVest Asset Management LLC acquired a new position in Codexis in the first quarter worth $698,000. The Manufacturers Life Insurance Company boosted its holdings in Codexis by 7.6% in the first quarter. The Manufacturers Life Insurance Company now owns 33,364 shares of the biotechnology company’s stock worth $685,000 after purchasing an additional 2,350 shares during the period. Northern Trust Corp boosted its holdings in Codexis by 2.3% in the first quarter. Northern Trust Corp now owns 640,121 shares of the biotechnology company’s stock worth $13,141,000 after purchasing an additional 14,544 shares during the period. Citigroup Inc. lifted its stake in Codexis by 10.0% in the first quarter. Citigroup Inc. now owns 18,146 shares of the biotechnology company’s stock valued at $373,000 after buying an additional 1,649 shares during the last quarter. Finally, ARK Investment Management LLC lifted its stake in Codexis by 45.3% in the first quarter. ARK Investment Management LLC now owns 311,368 shares of the biotechnology company’s stock valued at $6,392,000 after buying an additional 97,070 shares during the last quarter. 85.51% of the stock is currently owned by institutional investors.

A number of equities research analysts have issued reports on the company. Zacks Investment Research cut Codexis from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. ValuEngine upgraded Codexis from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 1st. Craig Hallum lifted their price objective on shares of Codexis from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, February 27th. BidaskClub upgraded shares of Codexis from a “hold” rating to a “buy” rating in a research note on Monday, April 1st. Finally, HC Wainwright lifted their price objective on shares of Codexis to $22.50 and gave the company a “buy” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $21.07.

In related news, SVP James Lalonde sold 19,999 shares of Codexis stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $18.65, for a total value of $372,981.35. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Gordon Sangster sold 80,000 shares of Codexis stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $20.88, for a total value of $1,670,400.00. Following the completion of the transaction, the chief financial officer now directly owns 174,453 shares in the company, valued at approximately $3,642,578.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 155,071 shares of company stock worth $3,190,531. 10.70% of the stock is owned by company insiders.

Codexis stock traded up $0.36 during midday trading on Wednesday, hitting $17.54. The company’s stock had a trading volume of 8,283 shares, compared to its average volume of 389,896. The company has a current ratio of 3.42, a quick ratio of 3.38 and a debt-to-equity ratio of 0.51. Codexis, Inc. has a 12 month low of $12.85 and a 12 month high of $23.05. The stock has a market cap of $941.92 million, a PE ratio of -83.57 and a beta of -0.15.

Codexis (NASDAQ:CDXS) last issued its quarterly earnings results on Monday, May 6th. The biotechnology company reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). Codexis had a negative net margin of 18.22% and a negative return on equity of 21.08%. The firm had revenue of $15.58 million for the quarter, compared to analysts’ expectations of $14.83 million. On average, equities analysts predict that Codexis, Inc. will post -0.23 EPS for the current fiscal year.

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Codexis Profile

Codexis, Inc discovers, develops, and sells protein catalysts. It also offers intermediate chemicals products that are used for further chemical processing; and Codex biocatalyst panels and kits that enable customers to perform chemistry screening. The company also provides protein catalyst screening and protein engineering services.

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Institutional Ownership by Quarter for Codexis (NASDAQ:CDXS)

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